Commerce Bank trimmed its stake in Skechers U.S.A., Inc. (NYSE:SKX – Free Report) by 19.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,470 shares of the textile maker’s stock after selling 12,795 shares during the period. Commerce Bank’s holdings in Skechers U.S.A. were worth $3,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Huntington National Bank boosted its position in Skechers U.S.A. by 861.7% in the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock valued at $28,000 after buying an additional 517 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Skechers U.S.A. in the 3rd quarter valued at about $31,000. GAMMA Investing LLC purchased a new stake in Skechers U.S.A. in the 4th quarter valued at about $36,000. Planned Solutions Inc. purchased a new stake in Skechers U.S.A. in the 4th quarter valued at about $70,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Skechers U.S.A. in the 4th quarter worth approximately $77,000. 79.96% of the stock is owned by hedge funds and other institutional investors.
Skechers U.S.A. Trading Up 1.4 %
Shares of Skechers U.S.A. stock opened at $68.29 on Monday. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02. Skechers U.S.A., Inc. has a 12-month low of $45.58 and a 12-month high of $69.80. The firm has a market capitalization of $10.42 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 1.20 and a beta of 1.29. The firm’s 50 day simple moving average is $62.48 and its two-hundred day simple moving average is $60.87.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.02 earnings per share. Analysts predict that Skechers U.S.A., Inc. will post 4.06 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on SKX. Bank of America began coverage on shares of Skechers U.S.A. in a research report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price target for the company. Raymond James lowered their price target on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Wedbush reaffirmed an “outperform” rating and issued a $76.00 price target on shares of Skechers U.S.A. in a research report on Friday, May 17th. Stifel Nicolaus lowered their price target on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Finally, Evercore ISI lowered their price target on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and an average price target of $66.83.
Get Our Latest Stock Analysis on Skechers U.S.A.
Insider Buying and Selling
In related news, COO David Weinberg sold 20,226 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,236,010.86. Following the sale, the chief operating officer now directly owns 99,655 shares of the company’s stock, valued at $6,089,917.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Skechers U.S.A. news, COO David Weinberg sold 20,226 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,236,010.86. Following the transaction, the chief operating officer now directly owns 99,655 shares of the company’s stock, valued at $6,089,917.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Michael Greenberg sold 25,282 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,544,983.02. Following the transaction, the president now directly owns 123,441 shares in the company, valued at $7,543,479.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,914 shares of company stock valued at $5,005,765. Corporate insiders own 24.75% of the company’s stock.
About Skechers U.S.A.
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.
Further Reading
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